Mission Statement

AAA

DEFINITION of 'Mission Statement'

A short sentence or paragraph used by a company to explain, in simple and concise terms, its purposes for being. These statements serve a dual purpose by helping employees to remain focused on the tasks at hand, as well as encouraging them to find innovative ways of moving towards an increasingly productive achievement of company goals. It is not uncommon for the largest companies to spend many years and millions of dollars developing and refining their mission statement, with many of these mission statements eventually becoming household phrases.

INVESTOPEDIA EXPLAINS 'Mission Statement'

Mission statements aren't just for Fortune 500 companies. Many of the most successful individuals, professionals and investors have taken the time to craft a personal mission statement. These personal mission statements often incorporate the financial, professional, spiritual and relational aspects of life. This in turn helps the individual to keep a healthy work/life balance that increases their personal achievement in all of these areas.

RELATED TERMS
  1. Enduring Purpose

    A public statement regarding a company's core principles, defining ...
  2. Corporation

    A legal entity that is separate and distinct from its owners. ...
  3. Fortune 500

    An annual list of the 500 largest companies in the United States ...
  4. Business Model

    The plan implemented by a company to generate revenue and make ...
  5. Credo

    A Latin word which means "a set of fundamental beliefs or a guiding ...
  6. Adverse Domination

    A legal doctrine that allows regulators to bring litigation against ...
Related Articles
  1. Evaluating The Board Of Directors
    Insurance

    Evaluating The Board Of Directors

  2. How To Evaluate A Micro-Cap Company
    Investing Basics

    How To Evaluate A Micro-Cap Company

  3. Evaluating A Company's Management
    Active Trading Fundamentals

    Evaluating A Company's Management

  4. How To Write A Business Plan
    Entrepreneurship

    How To Write A Business Plan

comments powered by Disqus
Hot Definitions
  1. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  2. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  3. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  4. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  5. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  6. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
Trading Center